The current time is very exciting for the founders. The startup ecosystem is booming globally. Gaurav Mohindra says, if we take the example of India, then India will be home to more than 200 unicorns by 2025. There are many reasons behind this growth. Fund of Funds, Oversea investment, and startup programs by the Indian government are some of the top reasons behind the startup growth.
Learning from Other Countries
Gaurav Mohindra says, the startup ecosystem is booming globally. If we talk about Israel, a small country, it is in the 3rd position for its tech ecosystem. Israel’s performance has surprised many countries. Because of with small local market, Israel is standing in the top position in the startup ecosystem. Many countries are trying to learn startup hacks from Israel. Israel is a country having lots of challenges but innovations done by the Israelis are the result of this growth.
Best Players in This Game:
According to the Global Startup Ecosystem Report, the top position is taken by Silicon Valley.
The Government’s Role Is Very Important in the Startup Ecosystem
Policies of government plays important role in the startup ecosystem. If we talk about India, then for the last 5 years the Indian government has adopted some techniques and policies to raise the startup ecosystem. India is a big country and it has a big local market. This is a big advantage for India to boost its startup ecosystem globally.
Importing Talent from Talented Countries
The population of Israel is less than 10 million but its industries are growing at a very fast speed. Indian universities are trying to learn as much as possible to gain from Israel. if we take the example of Singapore, which has a strong work visa program. Many Indians are also taking the advantage of this. If you want to start up or work in a company, this country is providing many advantages and many facilities. Singapore is one of the best choices for a startup for many Indians. Because this country is also providing many facilities for supporting families. The human resource that has experience working in the start-up world has to import. Visa extension, salary, and wages are examples of these policies.
Covid-19 Has Created Some Difficulties:
The pandemic has created difficulties for the startup ecosystem. Because to start up any business funds are the first requirement. Funds availability problem can be solved with the support of the government. Government policies and steps are very important to stable the covid-19 situation for the start-ups. Research suggests that 40% of starts worldwide have not received any help from the government. At this tough time, the government should take some bold steps and should stand up with the start-ups to stable the situation.
No doubt the startup ecosystem is booming globally. However covid-19 situation created some obstacles to this growth worldwide. The start-ups need more support to face this problem. Gaurav Mohindra says, the right policies of the government and new innovative steps are the milestone to overcoming the covid-19 obstacle.